A big part of the retirement experience is choosing the perfect home to live out your golden years.
Choose the perfect retirement home for you with the help of these eight expert tips:
Figure out how much you can afford
Take a look at your finances and figure out how much you can afford once you’ve retired. Most retirees live off a fixed income so it’s best to make a projection of future expenses including mortgage payments, utilities, HOA fees, property taxes, and the like.
Consider any remodels and renovations you might want to make once you’ve bought the home. Anticipate the cost of your medical care and other lifestyle needs as well to create a more accurate budget. Having a little extra money saved up can be helpful in case of an emergency.
Make a list of your priorities
Listing down what you need helps narrow down your choices.
Identify your goals and figure out what’s most important to you in this stage of your life. Do you want to live close to your family or does an active 55+ community lifestyle appeal to you more? Are you looking for somewhere more remote or close to the downtown area?
Look for the perfect location
With your goals identified, find a place that complements the kind of lifestyle you want to live during your retirement. A lot of people use retirement as the time to focus on their interests. If you’re a golf enthusiast, for example, then living in a luxury South Carolina golf community is the ideal choice for you.
Consider the type of amenities available to you. Every community has something different to offer. Some may have acres of open spaces while others have more indoor facilities. Also, remember to account for the climate if you’re moving out of state.
Figure out the features you want in a home
Think about everything, from the number of bedrooms, levels, and square footage to the size of the hallways and bathroom features. Don’t get carried away by flashy amenities. These home features may seem appealing to you now, but it can become a burden later.
Remember to buy a home that best suits the lifestyle you want to live. During the house hunt, take your time evaluating the pros and cons of each home.
Think about regular maintenance and upkeep
Choose a home that you can easily maintain as you get older. Buying a large house with a spacious backyard may be tempting now, but it could be difficult to manage as the years pass. The same goes with houses with too many bedrooms or floors.
If a home gets too difficult to maintain, you might find yourself hiring professionals to do the work for you which can eat up a lot of your finances in the long term. It’s one of the reasons why most retirees prefer to downsize when choosing a home to retire in.
Ensure easy accessibility
Your retirement home should have easy access to storage spaces, appliances, and the like. Getting older can present some challenges with your mobility. Make things easier for your future self by ensuring your home has easy accessibility before buying it.
For basements and attics, ensure that the stairs are sturdy, and the space can be well-lit. Commonly used appliances like the microwave, dishwasher, washing machine and oven should be in easy to reach places, as well.
Think about your pets
If you have pets or plan to get one in your golden years, your retirement home should also be able to accommodate it. Dogs need a place to exercise and run around while cats need a place for their litter boxes and toys. Find a property that suits your retirement lifestyle while meeting the needs of your furry companions.
Work with the right real estate agent
For an easy and stress-free home buying experience, enlist the help of an expert real estate agent, preferably one who specializes in retirement communities. They can guide you through every step of the process, from finding the perfect home to negotiating for the best deal to handling all the paperwork.
When choosing an agent to work with, make sure they know your target communities and have experience dealing with this market.
Are you ready to find the perfect retirement home? Get in touch with The Wiley Team today. We can help you explore your real estate options in and around Greenwood, SC. Give us a call at 864.993.8153 or leave us a message here.